BenchMarks
The Active/Passive Performance Cycle Second Quarter 2022 Update
The performance derby between actively-managed portfolios and passively-managed index funds is a topic of ongoing interest for Leuthold clients and the investment community at large. Therefore, we are providing an update to all charts and tables of our Active/Passive performance analyses.
Long-Term Equity Performance Coming Up Short
The bull market has pushed short-term annualized performance readings well above median levels, while the longer-term readings remain subdued. But there is a silver lining…
Two Valuation Metrics Still Bucking The Norm
With many (but not all) of our valuation metrics in overvalued territory, we present two histograms from our forthcoming quarterly BenchMarks publication that make the case that stocks are cheap (well, almost).
Stock Market Valuations And Treasury Bill Yields
The Leuthold Group currently incorporates 38 stock market valuation measures in its Major Trend Index (see Appendix). Currently 31 of these are at least to some degree negative.
View from the North Country
Benchmarks Mailed to All Clients in Late March...Hall Of Famer “Sedge” Coppock...MTA Annual Seminar May 19-21, Naples, Florida...New Zealand Update...Precious Metals Update
Intrinsic Value Update
We apologize for the unanticipated Benchmarks delay. In the meantime, per client requests, here are updated histograms for our primary stock market value benchmarks, including commentary. We are pleased that so many of our clients really do use this work.
Intrinsic Value Benchmarks
We were not planning to publish the Leuthold Group’s Histographs this issue. But clearly a number of clients have a high level of interest in this work. We had a large number of calls this last month requesting updates. So, here they are again.
Focus: Intrinsic Value Benchmarks
Updated histographs of P/E multiples, book value ratios and yields are presented this issue, as well as a new histograph of cash flow ratios.
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